Thank you for writing this article. You seem knowledgeable about the contract structure Guidance Residential uses. I think the Muslim community should normalize ways of financing homes outside the interest based banking system. Ways such as co-ops, seller financing, LLCs . Could you write something in the future detailing how these contracts could and should be setup (say 5 people buying a house with 20% share) to purchase and own property ?
There is a project called Ameen Housing Co-op in California, in which the house is exchanged at fair market value. In addition, the rent is priced at fair market value. I'm considering researching more on the project https://www.ameenhousing.com/home/what-makes-ahc-halal
There is another project known as Neeyah https://neeyah.com/ that is similar to Ameen Housing. I believe they are based in Texas
Thank you for writing this article. You seem knowledgeable about the contract structure Guidance Residential uses. I think the Muslim community should normalize ways of financing homes outside the interest based banking system. Ways such as co-ops, seller financing, LLCs . Could you write something in the future detailing how these contracts could and should be setup (say 5 people buying a house with 20% share) to purchase and own property ?
There is a project called Ameen Housing Co-op in California, in which the house is exchanged at fair market value. In addition, the rent is priced at fair market value. I'm considering researching more on the project https://www.ameenhousing.com/home/what-makes-ahc-halal
There is another project known as Neeyah https://neeyah.com/ that is similar to Ameen Housing. I believe they are based in Texas